INSTALLED RENEWABLE ENERGY CAPACITY
Renewables growth rate insufficient to reach 2030 target, says IRENA
A U.N. climate change conference in Dubai last year set a goal of tripling renewable energy capacity worldwide by 2030 to more than 11 terawatts (TW). Countries have to submit new or updated climate target commitments every five years after 2020 so next year they have to include revised ambitions for 2030.
Budget 2024: Renewed focus on solar capacity and renewable energy integration needed
India's solar capacity has grown significantly, reaching 84 GW by May 2024. To achieve its 2030 target of 500 GW non-fossil fuel energy capacity, India must triple its current rate of capacity addition. Budget 2024 should enhance support for innovative renewable energy models, RE manufacturing, and necessary transmission and distribution investments.
JSW Energy plans ₹1.15 L cr capex to diversify operations
JSW Energy announces a strategic shift towards becoming an energy products and services provider, with plans to invest ₹1.15 lakh crore in capital expenditure to achieve 20 GW generation capacity and 40 GWh storage capacity by 2030. The company is expanding its portfolio to include new energy solutions like green hydrogen and battery storage systems. JSW Energy's move aligns with industry trends as other players also diversify beyond power generation. Share prices closed higher at ₹736.5 on the BSE after the news.
DVC to invest Rs 20,000 cr in solar energy projects by 2030
The Kolkata-headquartered corporation now has only 14 MW installed solar capacity and is executing a 348 MW project in association with NTPC. A 250MW/hour capacity of battery storage is also under consideration, he said.
Budget 2024: What are power sector's expectations from FM Nirmala Sitharaman?
Budget 2024: With anticipated economic growth and a focus on energy transition, India’s power sector is a top priority for the government. The nation is targeting 500 GW of renewable energy by FY30 and an additional 85 GW of thermal capacities by FY32. ET examines the challenges faced by the sector and its budgetary wishlist.
India's biggest concentrated solar tender likely this year
The tender will be issued by the end of this fiscal, Gupta said. SECI is the nodal agency for implementing the government's renewable energy projects. "There have been solar thermal tenders but not of this scale," Gupta told reporters on the sidelines of India Energy Storage Week 2024 organised by India Energy Storage Alliance.
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SECI plans 500-MW solar thermal capacity tender by FY25-end: CMD
The India Energy Storage Week 2024 unveiled cutting-edge technologies like solid-state batteries and sodium ion solutions, offering Indian companies a gateway to the global battery market opportunities.
Adani Airports to chart next decade with $21 billion infusion
The business is housed under wholly owned subsidiary Adani Airport Holdings, which currently owns seven operational airports, in Mumbai, Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. Phase I of city-side development across 98 acres at airports in Mumbai, Ahmedabad, Jaipur, Lucknow and Guwahati has begun.
Adani to invest Rs 2 lakh crore in renewable energy capacity addition by 2030
Adani Group plans to invest Rs 2 lakh crore by 2030 to achieve 40 GW of renewable energy generation capacity, aiming for net zero emissions by 2050. With over 10 GW capacity currently, they aim to add 6-7 GW annually to reach 50 GW by 2030. The investment is estimated at Rs 5 crore per megawatt. Adani Green Energy Ltd has added 2.8 GW capacity in FY24.
Shree Cement's installed power capacity touches 1 GW, to focus on green generation
India's third largest cement manufacturer, Shree Cement, announced on Monday that it has achieved an installed power capacity of 1,000 MW. This milestone was reached with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit. The accomplishment involves a mix of solar, wind, thermal, and waste heat recovery power plants.
Record $1.8 trillion investment in renewables made in 2023 not enough to meet COP28 goals, says EY report
More than 100 countries at the COP28 climate summit in Dubai last year had agreed to triple renewable energy capacity by 2030 and cut down the use of fossil fuel and emissions, a move seen as vital to avert the worst effects of climate change. The pledge made at COP28 is one of the several energy-related announcements that include new measures and funding to combat methane emissions, agreements to cut coal use and nuclear energy promotion.
Adani Group to invest $100 billion in energy transition, says Gautam Adani
Green hydrogen, which is made by splitting hydrogen from water with the help of electrolyzers powered by clean energy, is seen as a potential panacea for decarbonizing the industry as well as transportation. Speaking at 'Infrastructure - the Catalyst for India's Future' event of Crisil, Adani Group chairman Gautam Adani said energy transition and digital infrastructure are trillion-dollar opportunities which will transform India both at a local and at a global scale.
By 2032, India infrastructure spending will surpass $2.5 trillion, says Adani
The Adani Group, he said, will invest over $100 billion (around ₹8.35 lakh crore) over the next decade in energy transition projects and in manufacturing every major component required for green energy generation. Adani Green Energy is building solar and wind parks. The group is also building facilities to manufacture electrolyzers to make green hydrogen, wind power turbines and solar panels.
India set to see biggest jump in coal-fired power in a decade
India is set to add 15.4 gigawatts of new coal power capacity this year, the most in nearly a decade, to meet rising electricity demand. Despite clean-power goals, coal remains vital due to economic growth and severe heat waves. Challenges in energy storage hinder renewable expansion, with slow progress in alternative technologies.
India likely to add 30-35 GW renewable capacity in FY25
India is set to add 30-35 GW of renewable energy capacity this financial year, surpassing last year's 18.4 GW addition. Renewable sources contributed 71% to the 26 GW power generation capacity added in FY24.
CleanMax Enviro Energy targets 3000 MW capacity by 2026
CleanMax Enviro Energy Solutions, backed by Brookfield Renewable, aims to increase operational capacity to over 3,000 MW by June 2026. The company has expanded to 8 states in India, with significant growth in commercial and industrial segments.
Global wind installation growth pace slows on rising costs
Global wind power growth expected to slow in 2024 due to rising costs, limited infrastructure, and policy uncertainty, with installations increasing by almost 6%.
Investment of USD 190-215 bn needed for India's 500 GW RE capacity: Moody's
India's infrastructure companies will be spending on energy transition to meet demand resulting from the country's relatively strong economic growth. However, government policies and stable regulatory frameworks will support credit quality, Moody's said in a statement.
Domestic open access solar capacity addition doubles to 1.8 GW in Jan-Mar: Mercom
India added over 1.8 gigawatts (GW) of solar open access capacity in the first quarter of the calendar year of 2024, posting a two-fold increase from 909.3 megawatts (MW) in Q4 2023, the report titled 'Mercom India Solar Open Access Market' said.
India to spend up to $385 bln to meet renewable energy target, Moody's Ratings estimates
India needs $385 billion for 500 GW renewable energy by 2030. Coal remains key for next decade. Adani Group plans to generate 45 GW of renewable power by 2030 to support India's transition to net-zero by 2070.
Adani portfolio delivers record 45% EBITDA growth in FY24
Adani Group companies saw a record 45% rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24, marking a massive comeback for the apples-to-airport conglomerate. The group focused on containing debt, reducing founder share pledge, and consolidating the business in core competencies. The five-year compound annual growth rate for profit growth was 54%.
India's power sector anticipates healthy growth in FY2025; demand seen remaining strong at around 6%
The healthy demand growth continued in the first two months of FY25 at over 10 per cent supported by a favourable base. The report stands validated by the record maximum power demand of 250 GW on May 30, as announced by the Ministry of Power.
Rooftop solar installations fall 26% to 367 MW in January-March: Report
India added 367 MW of rooftop solar in the March quarter. Installations fell nearly 10 per cent quarter-over-quarter from 406 MW and dropped over 24 per cent year-on-year from 485 MW, the report titled 'Q1 India Rooftop Solar Market' said.
Overheating electricity: How India can address supply shortages and renewable energy challenges
With temperatures soaring to record levels across India, the Government of India has taken steps to address the impending surge in electricity demand by instructing idling power plants to increase operations. This move comes as a response to the high demand for electricity not translating into adequate purchases by utilities, leading to shortages in power supply.
Rules eased for Green H2 producers in SEZs
India Tuesday exempted solar and wind energy plants located in a special economic zone, or export-oriented units for production of green hydrogen and its derivatives that are also in the same zone, from buying modules and turbines from the approved list of models and manufacturers.
Climate tech startup Cloover raises $114 million in seed funding
German startup Cloover secured $114 million funding led by Lowercarbon Capital to empower smaller installers in offering comprehensive renewable energy solutions. The funding will support expansion into new markets and technology enhancements.
Shining away: India’s solar potential
India has the potential to generate around 750 GW of power from solar sources, with only 11% utilization. New rooftop solar schemes can help ramp up capacity faster.
India adds record 10 GW of solar capacity in Q1 2024, marking almost 400 pc YoY increase
This figure represents an almost 400 per cent year-over-year (YoY) increase compared to the over 2 GW installed in Q1 2023, as per the recent Q1 2024 India Solar Market Update from Mercom India Research.
Share of non-fossil fuel to grow to 50% in domestic energy generation capacity by 2030: MNRE Secy
The government aims to raise the share of non-fossil fuel in India's electricity generation capacity to 50% by 2030, according to MNRE Secretary Bhupinder Singh Bhalla. Currently, non-fossil fuel-based capacity constitutes about 42% of India's installed energy generation. Bhalla mentioned this during his address at the World Hydrogen Summit 2024 in Rotterdam, Netherlands, on May 15, 2024. He highlighted a 10.79% increase in non-fossil fuel-based capacity addition in 2023-24 compared to the previous year.
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